Petrol: Which speaks for further rising fuel prices

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Gas station in Neuhausen, Baden-Württemberg: Gasoline has become more expensive since mid-March

Photo: Marijan Murat / dpa

Those who need to refuel are often shocked or frustrated or both these days - depending on their temperament. A 60-liter tank of E10 gasoline cost 109 euros at the end of March, writes the data portal Statista based on ADAC and Eurostat figures.

A liter of E10 recently cost an average of 1.83 euros - around eleven cents more than at the beginning of the year. And there is some evidence to suggest that fuel will soon become even more expensive. An overview of the most important price-driving factors.

Expensive oil price

According to the ADAC automobile club, the main reason for the increase in gasoline prices is the sharp rise in oil prices. A barrel of North Sea Brent (159 liters) costs around $90. That's twelve dollars more than at the beginning of January. There are also several factors behind this:

Short offer

According to raw materials experts such as Commerzbank analyst Thu Lan Nguyen, the most important price driver is the

uncertain situation in the Middle East

. Some of the world's most important oil producing nations are located there: Saudi Arabia, Iraq and Iran. The Strait of Hormuz, a 55-kilometer narrow strait through which around a fifth of the world's oil exports are shipped, runs between Iran and the Arabian Peninsula.

There is correspondingly great concern that the conflict will spread in the region - especially to Iran, which openly supports Hamas' terror. And that oil supplies are becoming more scarce as a result. Fears of such a conflagration have recently increased again. After a suspected Israeli attack on the Iranian embassy compound in Syria's capital Damascus, Iran's head of state Ayatollah Ali Khamenei is now openly threatening Israel with retaliation.

In any case, oil supply has been tight for months. Because many companies are currently sailing around the Red Sea out of fear of attacks by the

Houthi militias

. This means you sometimes have to take long detours, which increases transport costs. In addition, more oil is stored on tankers for longer and therefore cannot be further processed and consumed.

Higher oil production would help. But this is not in sight, at least for the time being. The

OPEC funding cartel

just decided on Wednesday not to expand production for the time being.

Rising demand

Added to this is the development of

oil reserves in the USA

. Inventories fell by two million barrels last week, according to the American Petroleum Institute. This indicates higher demand from the major oil consumer USA - and thus further rising prices.

In any case, the

prospects for global economic growth

have improved - because more positive economic data has recently come not only from the USA, but also from China. Since China is also a large oil consumer, demand for the raw material is likely to increase.

Growing gasoline demand

In addition to the unfavorable outlook on the global oil market, the situation on the gasoline market is also tense.

On the one hand, people in Germany and many other countries traditionally drive a lot between

Easter and Pentecost

because they visit their families over the holidays and/or take vacation on bridge days. This also drives up fuel prices.

There are also

structural changes in the automobile market

. According to the Munich Ifo Institute, diesel vehicles are becoming less attractive due to driving bans in city centers. According to the ADAC, customers are again increasingly buying cars with gasoline engines, including many hybrid vehicles.

All of this basically drives demand for gasoline. However, some refineries cannot adapt to this so quickly and simply produce more gasoline. This is because their production processes are complex and relatively rigidly geared to specific quantities of oil products.

Why diesel is hardly becoming more expensive

Diesel, however, has hardly become more expensive since the beginning of the year. A liter recently cost around 1.73 euros. That's only three cents more than at the beginning of the year. According to experts, the main reason is the falling demand for heating oil. This is because its consistency is very similar to diesel. When it gets warmer and people heat less, there is often a shift effect - which tends to push the price of diesel down.

And now?

The Autoclub Europa has collected a few tips for driving more fuel-efficiently. It is therefore helpful, among other things, to switch off the engine even during short stops, to shift into the highest possible gear early or to depress the accelerator pedal about two-thirds of the way when accelerating and then let the vehicle roll without accelerating.

Of course, it would be even better to use the high fuel prices as an opportunity to switch to bicycles or public transport as often as possible. In order to protect not only your wallet but also the climate.